Intrepid Potash Inc

IPI remains firmly in a Stage 4 decline, with confirmed lower highs and lower lows driving a bearish medium-term bias. The recent rally into declining EMAs presents a tactical sell opportunity in line with the downtrend, while the long-term uptrend on the 200-DMA persists but is showing stress. Execution should target selling rallies into the 9/21 EMA zone. Oversold conditions and proximity to 200-DMA support are key risks to monitor.

• ↑Q1 adjusted EBITDA reached $19 M vs $14.6 M prior year, up 30% YoY
• ↑Average realized potash price climbed to $353/ton, +13% YoY
• ↓Production guidance trimmed by 30 k tons due to unsuccessful AMAX drilling